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paysafecard continues its international expansion with a launch in Montenegro
Sep 04, 2018
The popular and secure online prepaid payment method is now available for online shopping in 47 countries
paysafecard, a leading provider of online prepaid payment methods and part of Paysafe Group, continues its international expansion with a launch in Montenegro. paysafecard is a long-standing, award-winning method of prepaid payment and today’s launch means that it is now available in 47 countries and over 600,000 sales outlets around the world.
paysafecard is a popular choice among both merchants and consumers for being a secure form of payment. In particular, consumers like it because it allows them to shop online without having to share any sensitive financial data or bank account details over the internet, and by paying with cash.
With around 650,000 inhabitants and high levels of internet adoption (around 65%) Montenegro is a vibrant and emerging European economy. Its GDP is growing at 4.9% per year making it the fastest-growing economy in the Balkans. 40% of Montenegrin people are underbanked and 15% of the population do not possess a credit card.
paysafecard is already available in Montenegro in denominations of 5, 10, 25, 50 and 75 Euros to purchase via the local Tobacco S Press d.o.o. shop network which comprises over 300 newspaper and tobacco kiosks. More merchants across the country are expected to sign up in due course.
Commenting on this expansion move, Udo Müller, CEO of paysafecard, said: “Montenegro is an emerging economy with a young and forward-looking population. This provides the ideal environment for digital innovation and there’s definitely a growing consumer demand for secure online payment solutions like paysafecard. paysafecard has a strong track record in many other countries but it’s the first prepaid method of its type to be available in Montenegro – we are excited about the future there.”
Founded in 2000, paysafecard is a market leader in online prepaid payment methods and part of the broad portfolio of innovative payment solutions and services offered by the Paysafe Group. It operates under the brands of paysafecard, my paysafecard, paysafecard Mastercard® and Paysafecash.
Available in over 600,000 outlets in nearly 50 countries worldwide, paysafecard enables easy and secure online purchases over the internet as payment is made using a unique, 16-digit paysafecard PIN and customers do not need to share sensitive financial data such as bank account or credit card details online.
Earlier this year, the paysafecard team launched Paysafecash - a new, alternative prepaid payment method for customers who want to pay online easily and safely using cash. Paysafecash is already being used in multiple European markets as well as Canada.
Headquartered in Vienna, in 2017 paysafecard achieved prepaid merchant transaction volumes of 2.8 billion Euro.
 CIA World Factbook
 The International Monetary Fund
 The PPRO Payment Almanac